Consumer Confidence Index Up in January

-- Home Textiles Today, 2/8/2010 12:00:00 AM

New York —

The Conference Board Consumer Confidence Index showed a modest increase in January after increasing in December.

The Index, based on a representative survey of 5,000 U.S. households conducted for The Conference Board, is now 55.9 (1985=100), up from 53.6 the previous month. The Present Situation Index increased to 25.0 from 20.2. The Expectations Index increased to 76.5 from 75.9 last month.

“Consumers’ short-term outlook, while moderately more positive, does not suggest any significant pickup in activity in the coming months,” said Lynn Franco, director of The Conference Board Consumer Research Center. “Regarding their financial situation, while consumers were less dire about their income prospects than in December, the number of pessimists continues to outnumber the optimists.”

Consumers who see jobs as “hard to get” declined to 47.4% from 48.1%, while those believe jobs are “plentiful” increased to 4.3% from 3.1%.

Respondents who expect their incomes to decline fell to 16.2% from 18.4%.

Consumers also expect to see inflation of 5.3% over the coming 12 months.